Kites Nest Inc

Analysis

Kites Nest Inc is a registered charity in United States, based in Hudson, NY. It received its IRS tax-exemption ruling in May 2014, 12 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Kites Nest Inc reported income of $1.8m and spending of $1.1m, leaving 37% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $1.8m (+63%), an average of +13% a year. The sharpest change came in the year to December 2022, when income rose by 62%. Over the whole period it spent 60% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Kites Nest Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 82nd percentile within NY. Charities of a similar size with the same main cause include Safe House Project Inc ($1.8m), The Downtownwaterfront Business Improvement District Inc of ($1.8m) and Baltimore Washington Laborers Joint Training Fund ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 1.7% of the total. Other salaries and wages came to $688k. At year end it held assets of $2.7m against liabilities of $16k, net assets of $2.7m. It reported 46 employees.